Forex

The first call of the Italy-Switzerland 2014-2020 Interreg program begins with the stage of submission of expression of interest. The Programme co-funded by the European Union aims to support the development and the cross-border cohesion Italy-Switzerland (four Italian regions and three Swiss cantons) making the most of local resources, taking advantage of the distinctive features of the two sides and consolidating international relations. The expression of interest (project idea in summary form) must be submitted by September 15, 2016.

Hot Ecofin meeting for the Italian Finance Minister Padoan, who wanted to intervene in defense of the Italian system: "There is a perception of the Italian banking system that is totally distorted in terms of numbers, of suffering, of what you need to capitalize", and "the fact that someone says that is generated as high risk is totally unfounded."

Ireland is definitely a new phase of economic development: according to data provided by the Central Bureau of Statistics of Dublin, the country has grown in 2015 to an astonishing percentage of 26.3%. The increase in GDP was revised from + 7.8% as previously reported, which had already been considered as far better than the results recorded in Europe and the West even more than an economic power like China.

Investors need not fear: Credit Suisse is now "safer than ever", supports the chairman of the management Tidjane Thiam, pointing out that the institution is making progress in its transformation process.

"The course of action should not be confused with the security of the bank and with the solidity of the budget," Thiam said in an interview published yesterday by the NZZ am Sonntag. In fact, the bank is working with a long-term strategy that will bear fruit later. "The course of action will move when they give you the results and when our strategy will give a good account of himself", he says he is convinced Thiam.

Philipp Hildebrand, vice president of the American asset manager Blackrock and former president of the Swiss National Bank, is afraid that Brexit is the prelude of a "catastrophe" in European financial markets.

"Nine years after the financial crisis now is coming the second wave," Hildebrand said in an interview with "Süddeutsche Zeitung". To worsen the scenario is the fact that Europe, at this time, has not healed their own banking system and "it was a big mistake." An unforeseeable event such as voting and unwanted output from Britain by the EU, leading financial markets to question the actual stability of European banks.

Fitch sends a warning to Europe and the United Kingdom, that in the aftermath of Brexit have already begun negotiations to regulate future trade relations, beyond the official statements.

The rating agency, in an article by analysts, said that "the negotiations will last longer, it will be worse" for both sides, showing "weak positions" and are affected by the political uncertainty and the risk of food populist positions in other European countries. "The time is crucial for both the United Kingdom, to see materialize the benefits highlighted by supporters of Brexit, both for the European Union, which risks delaying the laborious process of integration.

As announced in recent months by the Cupertino, today the Apple Pay service is officially available in Switzerland, as reported yesterday by the company as part of a presentation in Zurich. In the United States the payment method arrived in the autumn of 2014 and this year will also be launched in France, Spain and Hong Kong.

The system works right now with cards, both credit and debit, linked to the Visa and Mastercard circuits, institutes Bonus Card, Cornercard and Swiss Bankers. Meanwhile, the ability to conveniently pay with your iPhone in contactless mode, in addition to the Apple Store, is extended to eight of the leading retailers in the country.

Turnover increased by 7.8% to 5.01 billion francs for Barry Callebaut in the first nine months of 2015-2016. The Zurich-based chocolate manufacturer has registered an increase of 4.2% of its sales volume to 1.38 million tons.

The result, achieved despite a worldwide market for sweets down 2%, can be attributed to a better range of products and to an increase in prices of ingredients, the group announced today. The performance goes a little over the average expectations of the financial agency AWP consulted analysts who expected an increase of 4.1% in sales volume and a turnover of 4.93 billion francs.